NormanH Posted May 12, 2012 Share Posted May 12, 2012 Thanks. Under the old system I just quoted my P60, because I was never going to pay tax on that pension.Now there is the new system, and I have just got an OAP in addition which will be taxed, so it is more important to be accurate, as the sum determines where I fall in the French Tax bands Link to comment Share on other sites More sharing options...
cooperlola Posted May 12, 2012 Share Posted May 12, 2012 As I say, I have no idea if that's correct, nor if there is a correct way, but it seemed to me at the time to follow the same logic as the rest of the system so I went for it! I doubt it could be called cheating. Similarly, if you were able to look at the gross sterling amounts paid to you in the calendar year and went for the "official rate" system then I guess that would work in the same way. Link to comment Share on other sites More sharing options...
allanb Posted May 13, 2012 Share Posted May 13, 2012 Norman, I think you're right to maintain a link to the P60 since if you're audited that's your only supporting document.I suggest this: calculate 1/4 of your P60 numbers for the year ended 5/4/11 plus 3/4 of the P60 numbers for the year ended 5/4/12, and take the totals as your reportable income in sterling for 2011. You have the P60s as backup if anyone asks, and if you do this consistently you can't be accused of understating anything, since every penny of your income will be reported sooner or later. You could, in theory, adjust for the odd 5 days in April by using 96/365 and 269/365 instead of 1/4 and 3/4. I can't believe that any tax inspector would expect anyone to be so meticulous. Link to comment Share on other sites More sharing options...
Boiling a frog Posted May 13, 2012 Share Posted May 13, 2012 I have the same problem This is what I do.I know what I receive every month net(tax paid) into my French Bank account (in euros)I know what my monthly pension is gross in sterling,and my net pension approx.I simply calculate the pound to euro rate I receive every month then take the gross pension every month(in sterling) and multiply by the aforesaid exchange rate .AS the old age pension is received gross there is no problem with that one just declares the full amount received I have worked out an average of 1.15€ to the pound. Link to comment Share on other sites More sharing options...
NormanH Posted May 13, 2012 Share Posted May 13, 2012 Thanks allanb[:)]Why didn't I think of that ?[:-))] Link to comment Share on other sites More sharing options...
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